Mumbai, June 10 -- Domestic Bond yields continued to edge up as markets grew accustomed to the dynamics following a large 50 basis point interest rate cut from the Reserve Bank of India in last week. The 6.33 GS 2035 bond yield edged up marginally to 6.27%, approaching one-month high. A sharp jump in WTI Crude oil prices to nine-week high above of $65 per barrel also played a part in pushing up the yields. Meanwhile, the Reserve Bank of India on Monday said it will discontinue the daily variable rate repo (VRR) auctions - a window that allows banks to borrow from the central bank daily - from June 11, considering surplus liquidity in the banking system. The RBI had introduced daily VRR auctions on January 16 to support banks against the l...
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